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Best first credit card to get

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lil_penguino
Posts: 198 - Karma: 36

whats the best first credit card to get? if i just turned 18 a month ago and plan on keeping up on my payments, ive had a loan before when i was 17 an my parents co signed so idk if i have any credit, thanks

Jul 22 2009 9:23PM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
I would do it through your local bank that you have an account with. You should be able to get a card with a very low limit, which will be good anyway, and that will help you to start building credit from a young age. Anyway, go down to your bank that you use and talk to a customer service person about it, they'll point you in the right direction.
Jul 22 2009 9:30PM
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toominator
Posts: 4792 - Karma: 120
don't get a credit card to use the credit facility. learn how to save first.credit costs so damn much it's really not worth it at the end of the day. by the time you've finished paying off whatever it is you bought with credit it won't be cool anymore. the only reason I've got one is to buy stuff off the internet and to have $500 as a fall back in an emergency.

since you're young though you should be able to pick up a sweet deal, because they'll want you as a customer. I don't have any fees on my card, and provided I spend over $2000 a year on it they pay me $20 per year to use it. I've got a visa through my bank. I'd probably get a debit card now but they didn't have them when I got my card
Jul 22 2009 9:33PM
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skiminnesota
Posts: 9093 - Karma: 429
i got mine through the credit union i hold an account at. i would not mess around with some other card at this point. ide keep it simple and get one through your bank. its pretty cool with online banking i can pay my bill, do everything online.
Jul 22 2009 9:35PM
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ontwosticks
Posts: 915 - Karma: 95
I've got both a credit card and debit card. And honestly "building credit" is kinda retarded. Plenty of people survive without needing big loans early in life. A debit card is all you really need. It's unlikely you're going to need to spend a ton of money on something, and if you do need to, you should have saved up for it, not need to pay it off.
Jul 22 2009 9:38PM
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BC.
Posts: 1551 - Karma: 86
get a citi credit card, they have zero interest for the first year. after the year is over cancel and reapply exactly what i do
Jul 22 2009 9:40PM
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lil_penguino
Posts: 198 - Karma: 36

thanks for all teh help, i havnt checked the cti one yet, but the main reason i want get one now is to start getting credit for when i move out soon an college next year, incase i need a loan or somthing i wont need anyone to co sign an i could do it on my own, but out of these with one you guys thinks the best? im also trying not to apply for a bunch cause i heard that if it says on your credit report youv been applying places an get rejcted its not good for your credit score or somthing

https://www.wellsfargo.com/credit_cards/

Jul 22 2009 9:48PM
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yellav
Posts: 10056 - Karma: 1,217
none, im never planning on having one of these devices
Jul 22 2009 9:51PM
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Mac.
Posts: 953 - Karma: 24
Don't get a credit card.  Get a debit card.

I just got one since you have to be 17 to get one at my bank.  The only reason I got one is in order to buy stuff online, and I know that if I get into a bad situation and I don't have any cash, I can still pay.

Some people have the problem of thinking that have infinites amount of money with a credit card then once the bill comes they shit their pants and end up owing much more, with the crazy interest they charge.
Jul 22 2009 10:10PM
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ontwosticks
Posts: 915 - Karma: 95
If you really feel the need to get one, get the college card. Lower interest.

If you do get one. Make sure you only buy things on it that you can afford to pay off immediately. Finance charges fucking blow. I didn't pay my whole card off once because i was in africa and missed the payment. Suddenly I had an extra 10 dollar charge on top of my late fee as a "finance charge." Luckily i got it removed for good behavior, but that shit can build up.
Jul 22 2009 10:21PM
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MayorWest
Posts: 1596 - Karma: 160
debit alll the way
plastic causes trouble. always does
Jul 23 2009 12:09AM
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Malcolm
Posts: 15951 - Karma: 9,451
yeah i have a debit card. im never going to be responsible enough to own a credit card
Jul 23 2009 12:14AM
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Hannah.
Posts: 4625 - Karma: 56
i am barely responsible enough for a debit i overdraw all the time
Jul 23 2009 12:32AM
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timmi
Posts: 12874 - Karma: 3,460
i have an MBNA mastercard. just signing up i get a free nights stay in a hotel and earn points towards other hotel stays. credit cards are fine as long as your smart and dont spend more than you have.
Jul 23 2009 12:33AM
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skier_boy26
Posts: 11295 - Karma: 502
I haven't really read the other replies, but having a credit card is a good, and a bad thing. Good that you might have a little to use in emergencies (like, you need to replace a tire in the middle-of-fuck-nowhere, etc). bad in that you start to realize how much of a pain in the ass payments are (even the small ones).

That aside, you're young, and as somebody said: credit card companies like young meat. I got a capital one card a couple years ago. It was clean because it had a good limit, 0% for a year (then only 8 thereafter), and for travel it didn't have all the foreign transaction fees.

Depends what you want, but just be delicate with it: it isn't money, you have to pay back more than you spend in the end.
Jul 23 2009 12:38AM
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SkierX
Posts: 16253 - Karma: 538
Get one with a stupid low credit limit if it's your first one. The only piece of advice I have.
Jul 23 2009 12:44AM
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NW_Rider
Posts: 2580 - Karma: 314
dude, stop doing that, you are destroying your credit in two ways when you do this.

1. Creditors see you as not faithful in yourself to pay off credit debt or use it unwisely when you cancel a credit card and lower your credit score.

2. When you apply for the knew card, it also lowers your credit because you are asking for more money.

Citi can have some good offers, but they have also been guilty of some very sly moves. They have been known to raise rates for not paying off entire balances, not spending enough money, shopping at places they deem low income and make you higher risk i.e. shop and save, value villiage, walmart, holds placed on accounts that make you exceed your limit even though they are never processed (renting a car) etc... Some of the rate hikes have gone from low single digits to above 30%!!! Your best bet is to read consumer reports on whatever credit card you are looking at and compare thoroughly.

Try not to take out a card with too big of a credit limit as well, for a first credit card, a 500 dollar limit with no monthly or yearly fees and around 10% (It may have to be higher) APR and maybe 16% APR for cash advances would be a decent offer.

To the guy a replied to, not tryin to call ya out or anything, just tryin to give ya a heads up.
Jul 23 2009 1:04AM
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gmack24
Posts: 4636 - Karma: 31
don't get one man...go through a rough spell without work or money coming in and you're fucked. It happened to me and now I have the worst credit ever.
Jul 23 2009 1:04AM
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Balto
Posts: 25985 - Karma: 4,404
your a women tho so that only applies to you ;)

i have a capital one, but im on my parents account so.... no bills for me :)
Jul 23 2009 1:26AM
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laxstar
Posts: 1051 - Karma: 11
exactly... use a debit u shouldn't be buying something you dont have the money for... get a job save money and use a debit card
Jul 23 2009 2:15AM
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8ONE657
Posts: 3045 - Karma: 209
i've had my credit card for a while now and it's literally the only thing i use, i only use my debit for emergencies. i would say get a credit card thru your bank to start off with, that way if anything goes wrong you aren't dealing with a third party (ie: macy's). you will get lower rates but no by much and still able to accumulate points.

the only reason i suggest not getting one thru a store is when you have something that will get you perks, for example with my card i get $25 gift certificates to the store for every 3% i spend, which is great because i use it all the time.

if you really want something that is going to give you great perks, get a gas company credit card. the rates might be higher but at least the benefits are something you will always need.
Jul 23 2009 4:05AM
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japanada
Posts: 13785 - Karma: 1,956
I have a chase visa debit card, and a discover credit card. I get cash back rewards on all my purchases, and Ive set my limit to only $500. In the 5 years Ive had my card, I have made my payment in full and on time everytime!
Jul 23 2009 5:12AM
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bailer
Posts: 2178 - Karma: 14
THIS!

Dont get a limit over $1000. No matter what you think now you will end up buying shit you dont need.
Jul 23 2009 11:19AM
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Billek
Posts: 5665 - Karma: 98
I built up my own little checking account with the money I made at school.  Through that I got a debit/checking card and it works for everything I could need a credit card for.  If you don't need the whole 'credit' aspect of a credit card, then I suggest you just get a debit card.
Jul 23 2009 11:28AM
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idontactuallyski
Posts: 1320 - Karma: 19
straight cash homie
Jul 23 2009 11:31AM
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Peter.
Posts: 23796 - Karma: 13,014
you're only 18, you should be good with a debit card right now

Jul 23 2009 11:43AM
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PacificRimJob
Posts: 24725 - Karma: 29,948

Here me out ITS OKAY TO GET A CREDIT CARD FOLKS....

Reason being, is that you need to establish credit... of course, your credit will suck if you dont pay stuff off, but I have never missed a payment in my life, on my card... so take my advice here for starting out with a card.

First off, whatever you do NO CAPITAL ONE CARD. They will destroy your life at a young age.

Second off, NO AMERICAN EXPRESS. They will also destroy your life.

Do what the rest of everyone is saying and get one through your bank. Make sure you just have a 500 dollar limit. I had a 500 dollar limit until I was 20. For the last 2 years i've had a 700 dollar credit. Shit works well, dog. It keeps you out of debt for sure.

Then, heres what you do. Make all of your payments on your credit card, and then immediately pay them off through your checking account. What this will do is show your bank that you pay off your card OFTEN, and they will reward you for it like MADDDD in the future. I have a super low rate on my card now, and i'm sure if i wanted to take out a 5k loan, i could just walk up to my credit union, say 'yo give me money' and they would give me the paperwork to fill out right there and i'd walk out with 5k in my account to fuck around with. Thats just how good my credit is.

ALSO. it will make sure you're not buying anything over 500 bucks. You dont need anything worth over 500 bucks for a looong time. The only reason i upped mine to 700 was because i needed to pay for a clutch job that was going to cost 625 or something. This will keep you safe from making any crazy impulse purchase sprees, and make sure you're legit.

FURTHERMORE. your debit card is not always secure via the internet. Credit cards are, because the credit card companies NEED to secure you. Therefore, make all of your purchases via teh interwebz on your credit card. it will protect you from some asshole who might steal your insecure debit card info, and raiding your account like the barbarian viking guys on the capital one commercials...

Jul 23 2009 12:00PM
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selkirks
Posts: 1978 - Karma: 59
The only kind of card anyone needs is a debit card. Especially now. It's funny, Americans are saving more than they ever have, spending less, but still getting into trouble with credit card debt. I can guarantee you that your best bet is definitely a debit card.
Jul 23 2009 12:35PM
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Valind
Posts: 4358 - Karma: 17
You need to get a credit card that has a $300 limit.  Credit is almost a must these days.  You use it in more ways than you think.  To get a cell phone they run credit.  To get electric then run credit.  To get dish tv they run credit.  If you build it while you are young, you will be better off when your in your late 20's.
Jul 23 2009 12:43PM
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SkierX
Posts: 16253 - Karma: 538
I agree with this statement.

It is much wiser to learn how to manage your finances and become financially stable while you are 18 as opposed to graduating college at 22-23 with nothing but a faint idea of how to manage bills effectively.

Additionally, you do not want to have to fall back on co-signers when you are 25 and are applying for an auto loan.
Jul 23 2009 5:19PM
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lil_penguino
Posts: 198 - Karma: 36
i think im gunna go with the bank one gunna call em tommaro, thanks for all teh help, should be legit cause i dont over draw with by debit card an i pay what small bill i have on time
Jul 24 2009 3:06AM
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grown-ninja
Posts: 3031 - Karma: 175

2 of my roomates cars have 26,000 dollar limits i allways try and convince him to guys a car on his cards, never works out though,

back to the subject thought, getone threw your local bank, thats where one of mine is from its so easy you pay if your havent signed up for online banking, dont get the visa amazon thought, worst card ever, my other ones i called up and thretened to cancle and they lowered my interest rate, visa are basterds

Jul 24 2009 8:53AM
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louie.mirags
Posts: 6015 - Karma: 5,027
don't get one. I went and got one so i could afford a flight when i went on leave. I went a little crazy and long story short im deep down in a hole. And trust me its not a good feeling.  Its easy to say that you wont go crazy, or its only for emergencies.  But then 3 days before payday always seems like an emergency. Being in debt just kills you inside. I cant get it off my mind
Jul 24 2009 11:25AM
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Norred
Posts: 3520 - Karma: 13
Credit unions often offer the best interest rates to someone just getting started building their credit.  Always read the fine print, and make sure shop around.  Look for something with cool rewards like airline miles or cash back.  Be responsible.  If you use it, pay it off.  Don't ever go over your limit, and don't ever be late.  Keep the balance low.  If you don't already know, learn how compound interest works.  You'ld be suprised how fast you can get in a hole.  One of the main factors in determining your credit score is the percentage of total credit available.  You will look much more responsible on paper if you have available credit you don't use.  This will be very important once you hit your twenties and beyond.  As someone mentioned so many things you do will be based on your credit from cell phone to car insurance.  Good credit will save you A LOT of money in the future when you buy a car and eventually a home.  A lot of employers look at your credit too.  That's a big one a lot of people your age may not know about.  Good luck, and trust me when you go to college and are really poor just barely scraping by, DON'T USE YOUR CARD TO BUY BEER, TRIPS TO WHISTLER, OR TO TAKE OUT CASH ADVANCES TO BUY WEED!

If you have to, cut it up or put in in a tuperware container filled with water and freeze into a block of ice.

I really learned the hard way with my credit, so I hope you take my advice!


Jul 24 2009 12:46PM
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caucasian_chad
Posts: 4078 - Karma: 3,625
I would get one with a low limit.  The only problem is its a lot easier to buy stuff when you don't have to physically hand the money to the cashier.  I've had one since I was 16 because I was going to Germany and needed one over there, and I noticed I make a few more small impulse buys then I used to, especially on the Internet since I don't have to ask my parents to use their card anymore.
Jul 24 2009 12:55PM
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caucasian_chad
Posts: 4078 - Karma: 3,625
A debit card since I was 16.
Also, I was wondering, if you have a Wells Fargo/Visa check card and you always hit credit instead of debit, are you building credit or does that still count as just a direct draw from your checking account? (not trying to jack the thread)
Jul 24 2009 12:58PM
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Norred
Posts: 3520 - Karma: 13
It's the same as debit it just takes a couple days for the funds to show.  It is still a debit card.
Jul 24 2009 1:09PM
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lil_penguino
Posts: 198 - Karma: 36
i tried wells fargo got declined, tried american express got declined (i know i was told dont do it but i though they would execept me), i cant do any of the college cards yet cause i wont be starting school till next summer, so i think im gunna try a gas card to get my credit started, so what one should i try for? btw i checked my credit score an its like 630 or 650
Jul 25 2009 12:26AM
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eheath
Posts: 61637 - Karma: 123,418
Wait til you're in college and get a college credit card with wells fargo, no way you can get denied, but i mean i have a score of like 720 and got a 1200 dollar limit so you might have a shitty limit but at least its a card.
Jul 25 2009 12:37AM
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Billups
Posts: 3960 - Karma: 329
This
Jul 25 2009 3:55AM
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eheath
Posts: 61637 - Karma: 123,418
Sucker, i HAVE to pay a min of 25 a month, so epic.
Jul 25 2009 5:08AM
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-ROY-
Posts: 3633 - Karma: 1,503

ooo silly eheath with his stupid fucking comments.

credit cards tho..like many people have already said get one at your local credit union. Do not get one through a large financial. they will fuck you over. that zero percent for a year  is bullshit. after that point of time passes, they can increase your interest rate basically as high as they want. credit unions are the way to go, usually they have fixed interest rates, and actually explain how credit works. credit cards are awesome ways to build credit (but be careful because they can easily ruin your credit) dont be late and pay off your balances.

Jul 25 2009 12:07PM
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eastside
Posts: 1744 - Karma: 167
you better have been drunk when you wrote this.

get a visa. they are accepted everywhere.
Jul 25 2009 12:35PM
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Big_Spence
Posts: 16177 - Karma: 4,352
I have experience in this matter.
Thank God no dealers take credit...
Jul 25 2009 1:15PM
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lil_penguino
Posts: 198 - Karma: 36
aha, how the hell did you get that limit arnt you only 18?? ahahah i was acually planing to use a small amount of the card on hood myself
Jul 25 2009 1:22PM
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lil_penguino
Posts: 198 - Karma: 36
haha my bad, i though you were jus a little tyke
Jul 25 2009 3:14PM
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